What to know:
- Hyperliquid (HYPE) price surged nearly 20% in 24 hours amid strong market momentum and growing investor interest.
- Trading activity and participation remain elevated, supported by multi-billion-dollar daily volume and expanding market engagement.
- On-chain metrics show whale accumulation, rising open interest, and a sharp increase in social activity, signaling strong demand.
Hyperliquid (HYPE) price is gaining momentum and making steady progress toward achieving its previous record high price as more people become interested in the token.
At the time of writing, HYPE is trading at $61.71, and the Hyperliquid price has surged 20.34% over the last 24 hours. The token has also recorded $3.79 billion in daily trading volume and a $15.59 billion market capitalization, reflecting increased participation across the market.
Source: CoinMarketCap
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Hyperliquid Price Moves Closer to Key Resistance Level
On May 21, 2026, cryptocurrency analytics company Alphractal revealed that they have been monitoring Hyperliquid for two months. The information provided by them reveals that the Hyperliquid price has crossed it’s all-time high of $59.30 achieved in September 2025.
The token then went into consolidation after peaking out. There was an uptick in action in April 2026, where perpetual volume topped $180 billion, and Hyperliquid took up 70% of on-chain perpetual trade volume. Hyperliquid token increased in value by 45% over five weeks, from $36 to $52.34.
Source: Alphractal’s X Post
On May 18th, it was reported that CME Group and ICE were seeking regulation on Hyperliquid’s activities. This increased negative sentiment. At this time, two prominent liquidity providers withdrew their $100 million worth of BTC and ETH from the market.
Going against the anticipated trend of a weak price, the Hyperliquid price reversed its movement and gained 8.4% within the day. The gain in price over the next week was further seen to rise by 34%. The price remains just about 11.9% from hitting an all-time high.
On-chain Data Supports Hyperliquid Price Strength
On-chain metrics also suggest stable demand regardless of price swings. Whales increased their positions by $47 million, even as the funding rate came down from 0.08% to 0.02%. The open interest rebounded 18% in just 36 hours after the correction phase, and social volume saw a 4.3x spike above its average level.
These factors indicate that the price rebound for Hyperliquid is due to actual participation and not short-term speculation.
The token economy system has also become tighter due to token burnings. Buybacks account for 97% of the platform fees collected, and these are burned. To date, more than 41 million tokens have been burned, valued at over $1 billion.
Meanwhile, the system development goes on with the emergence of new products like HIP-4 events and prediction markets, all being launched amid regulatory talks. This development further buttresses the Hyperliquid price model.
Grayscale Accumulation Boosts Hyperliquid Momentum
According to Lookonchain data, Grayscale has made substantial gains. In particular, the company reportedly acquired 115,733 HYPE tokens worth approximately $6.65 million within an hour, and the total acquisition in a week amounted to 682,190 HYPE tokens worth roughly $34.9 million.
Source: Lookonchain’s X Post
Thus, this continuous stream of large buys has reinforced expectations for the Hyperliquid price trend.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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